Reinsurance News

The modified and amended Chapter 11 bankruptcy plan of liquidation for insurtech Vesttoo got its court approval late yesterday, as the Delaware judge signed off on a last minute term sheet related to settlements. But, with some objections still being raised the focus now turns to the Bermuda court for approval to proceed with constructive […]

The global reinsurance market pricing cycle is peaking and rising levels of both traditional and alternative capital is one driver, but still the market remains very attractive and profitable growth opportunities persist, according to Fitch Ratings.

Reflecting the much improved conditions for investments into reinsurance and retrocession, global insurance and reinsurance player Everest Group has received both positive income and dividends from its Mt. Logan Re Ltd. third-party capitalised sidecar-like structure in 2023.

Africa Specialty Risks, a pan-African focused reinsurance group, has announced a new partnership with a leading European reinsurer to double its parametric risk transfer capacity, with this new arrangement facilitated by broker Inver Re.

Creditor parties in the bankruptcy of insurtech Vesttoo are much closer now to an agreement on the settlements that had provisionally been reached, as well as on the plan of bankruptcy and liquidation, so hope has emerged that sides may find a common ground and the process could then move forwards at pace.

Research from the Swiss Re Institute finds that countries are at risk of higher property damage losses as a result of climate change, with the United States and the Philippines likely to be hardest hit as certain hazards intensify.

The legislative reforms aimed at improving the property insurance market in Florida are increasingly seen as having a positive effect, with carriers increasing their appetite for writing in the state and analysts suggesting the benefits of the reforms could be significant over time.

Some investors may not have realised that “reinsurance has a self-healing mechanism” causing them to miss out on the record year of returns in 2023, according to Larry Swedroe, Head of Financial and Economic Research at Buckingham Wealth Partners.

The US life insurance and reinsurance marketplace is increasingly focused on setting-up capital light reinsurance structures, while there is also growing appetite for sidecar structures to support capacity as well, analysts at Goldman Sachs have reported.

Munich Re said this morning that while market pressure has increased slightly in reinsurance, the company anticipates positive conditions continuing through the April and July renewals, although at the same time cautioning that pricing must remain adequate to cover severe weather risks.